Stephen Simpson, CFA
Nov. 6, 2014, 7:16 PM
- Veolia Environnement (NYSE:VE): Adjusted operating cash flow of €1.45B
- Revenue of €16.84B (+4.2% Y/Y).
Aug. 28, 2014, 9:10 AM
- Veolia Environnement (NYSE:VE): 1H Adj. Net income of €187.5M.
- Revenue of €11.23B (+1.4% Y/Y).
Feb. 27, 2014, 3:55 AM
- Veolia (VE) swung to a loss of €135M in 2013 from a profit of €404M a year earlier, with the latest figure exceeding consensus of €82M.
- Adjusted net profit jumped to €223M from €58M a year earlier, topping expectations of €70M.
- Adjusted operating profit +17% to €922M.
- Revenue fell to €22.31B from €23.24B, mainly due to asset sales.
- Net financial debt fell to €8.2B from €9.6B at the end of Q3.
- Veolia aims to boost adjusted operating cash flow by 10%, and it is targeting "significant growth" in adjusted operating and net profit.
- Veolia will pay a dividend in 2015 of €0.70 a share for 2014.
- Yesterday, the company's board proposed keeping Antoine Frerot as CEO for another four years despite attempts by a main shareholder to remove him. (PR)
Nov. 7, 2013, 11:55 AM
- Veolia Environnement (VE +2.5%) moves higher after reporting its net financial debt stood at €9.6bn at the end of Q3 vs. €10.8B at the end of last year amid otherwise lackluster earnings results.
- Revenue for the first nine months of the year was €16.2B, down 1.9% Y/Y and in line with analysts’ expectations, but adjusted operating income rose 20.4% to €621M during the nine months.
- VE says the conclusion of talks under way with French electricity utility EDF (ECIFF, ECIFY) to divide Dalkia’s business would lead to VE taking over 100% of Dalkia’s international activities.
Aug. 5, 2013, 8:34 AM
- Veolia Environnement (VE): H1 net profit slumps to €4M ($5.3M) from €162M a year earlier and vs consensus of €106M.
- Adjusted net income €131M vs €18M last year.
- Sales -3.3% to €11.07B vs forecasts of €10.6B.
- Net profit fall reflects provision of €48M for German waste activities and another €17M for restructuring at company HQ.
- Excluding provisions, EBITDA -7.6% to €930M, recurrent operating profit +28% to €539M.
- Confirms 2013 earnings objectives, aims for organic revenue growth of over 3% a year after 2013.
- CEO Antoine Frerot: Veolia doesn't expect to book further extraordinary charges other than possible restructuring charges.
- CFO Pierre-François Riolacci: business conditions in Europe stabilized at the start of H2; slowdown in global economy could "impact us directly, especially via raw materials prices." Starting to see new orders in water business outside Europe for first time since the start of the financial crisis; toxic waste treatment business going strong.
- Shares +4.9% in Paris. (PR)
Feb. 28, 2013, 3:24 AMVeolia Environnement (VE): 2012 net profit €394M vs loss of €490M in 2011 and consensus of €215M. Revenue +3% to €29.44B vs consensus of €29.1B. Ahead of plan for debt reduction, and now intends to cut debt to €8-9B in 2013 from €11.3B in 2012. Veolia also plans to accelerate asset sales, increasing its 2013 target to €6B from €5B. Proposes dividend of €0.70 this year. Shares +6.4% in Paris. (PR) | Feb. 28, 2013, 3:24 AM | 1 Comment
Nov. 7, 2012, 3:49 AMVeolia Environnement (VE): Nine month EBITDA -6.3% to €1.95B vs consensus of €1.91B, with earnings hurt by lower prices and water margins. EBIT -25% to €840.9M, revenue +1% to €21.6B. Net debt rises to €15.2B from €14.7B at the end of last year, but expects it to fall by €2.5B-€3B in Q4. Still expects to sell assets of up to €5B in 2012-13 to cut debt to below €12B and pay dividend of €0.70 a share for 2012. (PR) | Nov. 7, 2012, 3:49 AM
Aug. 4, 2011, 8:17 AM
Veolia Environnement (VE) -14% after it swings to an H1 net loss (.pdf) of €67.2M ($95.6M) from a €375M profit a year earlier, due to accounting fraud in the U.S. and problems in Southern Europe and North Africa. The company also lowered its full-year guidance and announced a restructuring.| Aug. 4, 2011, 8:17 AM
Jul. 29, 2011, 9:28 AM